Nashville Real Estate
September 2009

St. Martin Square Condos at Seven Springs in Brentwood

September 28, 2009 by · 2 Comments  

So what if the downtown Nashville scene isn’t your cup of tea? You like the luxury condo product, but not the traffic and noise that urban living inevitably brings. There is an interesting alternative in St. Martin Square at Seven Springs in Brentwood that just might be right for you. St. Martin Square is a luxury resort style, gated residential community with a prominent Nashville address in... [Read the entire article…]

Encore Condos Offer Close Out Prices

September 25, 2009 by · 17 Comments  

The 332 unit Encore condo building in downtown Nashville is nearly sold out. The owners, Giarratana Development and the Novare Group, have sold nearly 80% of the building and are now in what appears to be the close out phase. Here is the current incentives package for 2 bedroom condos in the Encore: • Prices that now begin at $290,000 • Hardwood flooring in the living and kitchen areas • All... [Read the entire article…]

September Nashville Condo Sales Analysis

September 24, 2009 by · 3 Comments  

I was grabbing a quick bite to eat earlier today at a trendy little restaurant in the Gulch when I overhead the following conversation between two seemingly educated 30-something professionals: Guy #1: “Wow, this area of town is really pretty cool. I mean, it has some really tasty restaurants and stuff, but these condos are just dying. I hear that the Icon is only 10% full. God, I’d hate... [Read the entire article…]

Nashville Home Loan Rates Closer to 5 Percent

September 23, 2009 by · 1 Comment  

Nashville home-loan rates remained near three-month lows this week and dipped even closer to the 5 percent threshold, Freddie Mac reported in its survey this past week. According to the firm, average interest on 30-year fixed loans fell to 5.04 percent from 5.07 percent a week earlier; while 15-year mortgages averaged 4.47 percent, down from 4.5 percent the prior week. Five-year adjustable-rate mortgages... [Read the entire article…]

Rolling Mill Hill Foreclosure Auction

September 22, 2009 by · 3 Comments  

Rolling Mill Hill’s three condo buildings will be sold to the highest bidder at foreclosure auction at 10 a.m. Sept 24, 2009. The auction will be held on the Metro Nashville courthouse steps located at 1 Public Square in downtown. The development had been a centerpiece of MDHA’s redevelopment of the old Metro General Hospital site. The agency sold the land to private developers (Direct Development),... [Read the entire article…]

Velocity in the Gulch Condo Sales Update

September 19, 2009 by · 21 Comments  

It has been tough sledding for the 265 unit Velocity in the Gulch condo project located next door to the Icon. For a project whose presales numbered in the hundreds, having 9 total closings (3.4%) in the first 3 months since opening does not seem impressive. Even less impressive is the over $325 a foot price point for what amounts to an urban apartment dwelling. More confusing is the fact that recent... [Read the entire article…]

5th & Main Condo Sales Update

September 18, 2009 by · 2 Comments  

Well, there really is not a whole lot to report here except for the fact that there have been no new closings since my last report in August. Since Wachovia let the East Nashville 5th & Main project slip into receivership, there has still only been 2 brave souls to take the plunge. The Tennessee Disability Coalition bought the 1,429 square foot condo #602 for $285,000 recorded with the Davidson... [Read the entire article…]

Nashville Mortgage Rates Move Lower

September 16, 2009 by · Leave a Comment  

Freddie Mac reported a dip in borrowing costs for long-term mortgages this week. According to the federally chartered company, the average interest on 30-year loans fell to 5.08 percent from 5.14 percent a week ago; while rates on 15-year loans came down to 4.54 percent from 4.58 percent. Adjustable-rate mortgages declined as well, with the one-year ARM sliding to 4.62 percent from 4.69 percent and... [Read the entire article…]

Average Tennessee Closing Costs Going Up

September 16, 2009 by · Leave a Comment  

Bankrate.com recently conducted its annual national survey of average origination, title, and closing costs, for a representative $200,000 loan, assuming a 20 percent down payment and good credit. Nationwide, the average origination and title fees on a $200,000 mortgage this year totaled $2,732, according to Bankrate’s annual survey of closing costs. The fees in the survey don’t include... [Read the entire article…]

Icon Nashville Condo Prices Going Up

September 14, 2009 by · 15 Comments  

If you are one of those folks who thought that condo prices would continue fall this year, here is a piece of news that will surprise you: The developers of the Icon in the Gulch, Bristol Development and MarketStreet Enterprises, are raising prices today. Specifically, the Icon is raising prices on all of the downtown facing 1 bedroom and 2 bedroom condos in the building. Looking at the total closings... [Read the entire article…]

Tollgate Village in Thompsons Station Rumor

September 12, 2009 by · 33 Comments  

The previous content was removed at the request of James Carbine. The only factual part of the story I feel comfortable posting at this point is the sales summary from the local MLS (I apologize to those sources who brought the original story to light, but I am not going to risk a frivolous lawsuit): As of September 12, 2009: There are 21 homes listed for sale on the MLS, one of which shows an offer... [Read the entire article…]

August 2009 Nashville Real Estate Market Analysis

September 11, 2009 by · 6 Comments  

The Middle Tennessee MLS (Realtracs) just released August 2009 stats. The following graph and analysis are based upon the residential single family homes and condos market only. As you may recall in July, closings and prices increased while total inventory was on the fall. Did August continue to buck the national trend or is it time for our typical seasonal fall? Total Inventory (Okay, Getting Better) Inventory... [Read the entire article…]

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